It doesn’t take a genius to figure out the market’s (S&P 500) current chart pattern isn’t all that inspiring. What you’re looking at below is a 3 year period. For around the first two years, things look great. For about the last year things look tepid at best. For most investors, seeing a market that can’t find its place in the world is frustrating.
Can it break resistance? For now we keep waiting.
Having a good deal of dry powder (code for your funds sitting in cash) right now probably isn’t a bad idea. Or even a hedge (code in the case for short position), would make for a well disciplined strategy. In the long-term, we are still in a bull market, but when you compress the window the bull doesn’t look so bullish.
Sit tight. Don’t get too excited and let the market show a little more before you take the plunge. Patience is a virtue.